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A few people have talked about returning cash, but I haven't seen anything that indicates they will. That's not to say there isn't something. There's probably quite a bit of detail I've missed. Would be great if they did, just to put an end to this.
There is very little that can be done.
AMC clearly stated that should an RTO not occur a 2nd dividend will be distributed.
I'm perfectly happy receiving the remaining balance.
Alternatively, if they release an RNS tomorrow for an RTO vote next, then I will vote accordingly
It's another reason it's strange the main shareholders aren't doing anything, as there clearly is a deal to be done (even if poor). Maybe they are banking on a miracle next week, like everyone else.
I would of agreed 6 months ago. Looks an odd decision at this point. I'm sure if you put anything similar to shareholders now, they'd bite your hand off.
Sorry missed typed
The fact they turned down Accent Resources makes me think they have something better in the pipeline
I really hope so !
The cases I've seen where cash shells have delisted, its been pretty simple. Carry on as normal and continue to look for things to do, just not listed. Which if the last year is anything to go by, it'll be another year hoping for them to do/say something.
It must be too late now. Unfortunately, I fear the announcement is going to be very annoying and vague, with no time line to anything. Best case would be a return of cash, but even that feels unlikely.
There maybe a so called mitigating circumstance to extend the suspension, ie Potential RTO DD to finalise the deal. However, unlikely scenario for amc!!
Good luck everyone.
Are there any rules on how long we are given to vote on a decision re take over etc
Could RY be playing a cheeky game to post an update so close to deadline that we don't get time to vote or not enough voters?
We might as well just say goodbye to AMC now because we are practically out of time. 1 week!
It says delisting on the 8th in the results. Maybe the option they'll go for is to delist, the pick up an asset to develop, then list on another exchange. That would make sense and be less restrictive than a rto (there's plenty of asset around). Would be a horrible wait for people holding though.
Is Wednesday 06 March our key date?
So Robin Young has a little over a week to reveal whether he is the snake many of us think he is,or redeem himself by pulling something out of his ……………(.no i won’t say it) hat.Most of us feel that he’ll let it de-list and milk it for all it’s worth before distributing anything back to shareholders.
If he does pull something off to give shareholders a lift,it will be a chance to recoup a little of their losses,if he doesn’t he will leave a trail of deceit that is absolutely shameful.
You'd certainly think they would want to keep the listing going. It's becoming more and more difficult to create this type of listed company. Strange just to give it up, but that's the way it's looking.
Only My Take on The Matter But Robin has been Notorious in his Lateness and I suspect that an RTO is Likely but probably at the last possible time legally to announce it...Again Fingers Crossed ....
I think it'll probably be delisting and a "we continue to evaluate options" statement. Which would make no sense, as a listing is a strong point in doing a deal. I hope it's one of the other options, but it's get to the point where people might have to consider how they are going to get some money back.
2 weeks to go for an RTO announced or the company will be automatically delisted. Now will the company return cash to shareholders as in accord with the AIM listing rules and announce this in the next 2 weeks or will they delist and be chased for the remaining cash?
RNS this week or next. Could be a return of cash. Could be a delisting an all the trouble with that. They are leaving it close to announce a deal.
It would not be right for them to delist and continue to take a wage. Looks like they can continue to take a wage for 2 weeks only. When delisted how could they continue to take the large salaries they do?
Will they leave it for the last week or will there be news this week? I go for this week. Its return of cash and the closing down of the company. That is the best route for all. Who trusts these guys with a new adventure? They were never really good. Why let them waste more money an drain the remaining cash? They should end it all. Good luck all. News soon.
Well the major shareholders are all nominee accounts, so it's probably down to loads of pi's not wanting to take action. Maybe it's spread over quite a few and no one owns a large enough amount to feel they can effect things. Frustrating, but I don't have a huge amount in this.
MD, you have a good point there.
The way they do business and that bad smell is probably the reason for no reverse t/o’s
For some reason there never seemed the appetite to replace the board. I had suggested to go down this route several years ago when it was obvious to me the BoD required a change. Not all at once, but every time a board member came up for re- election, I would have voted them out as a warning as to who will be next, to sharpen their focus. The general consensus on here was that might not be a good idea!!!! With hindsight, it might have been! Just for clarification, I bailed out quite a while back, but hope that the reputation of the current board follows them around like a bad smell, severely limiting their opportunities to deceive other shareholders.
Good point. We'll have to see what they release in the next week or so, but people might have to start looking at their options. I just can't believe the larger shareholders are giving them a free pass. I feel in any other AIM share like this (cash shell) there would be efforts to replace the board by now.
Sorry meant to add this too:-
Doesn't need to be someone with a large shareholding, anyone can start a winding up order.
Or you can issue a claim through the governments "Moneyclaim" for smaller holdings (upto £10k). AMC probably wouldn't even respond, you get judgment, then you can send in Bailiffs to recover your money. I've used this many times for various business supplier and customer issues and it works a treat!
The board of Amur continues to review a number of reverse takeover opportunities. Further announcements will be made as appropriate.
I believe this was mentioned on 7th September RNS
Surly they have had a few companies on thier radar
I can't believe they have not finalised anything yet
Absolute jokers !!!